Interest rates are up, but are prices coming down? Not in Orange County!
Although prices have started to decline in 1/3 of the country, the desirability of our
area has continued to cause housing prices to rise. We are headed to a more
balanced market, however, with fewer offers being submitted on each home, and
total sales declining slightly. Inventory is building as sellers worry about rising
interest rates, so there is more variety for buyers in the market. We are still in a
seller’s market, but much less dramatically than earlier in the year.